All Forum Posts by: Jonathan M.
Jonathan M. has started 4 posts and replied 66 times.
Post: Another Hello from So. Ca.
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
Welcome to bp. I'm only a few minutes south on the 405. Like you I want to get into buy and hold. Anyway there are a lot of knowledgeable people here who are willing to share and help. Good luck in your journey.
Post: Wanting to move to Los Angeles to invest
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
If you want to do flips or spec builds, you might do well if you have the skills and capital. There are active members here doing well in that area here. Personally I'm looking at buy and hold so I have to look way inland or out of state.
Post: GOALS FOR THE NEW YEAR?
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
My goal is to continue to learn, save, and acquire my first rental property by summer.
Post: Meetup in LA for those interested in Out-of-State Investing
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
Count me in. Even though I live in OC I work in Santa Monica so a Westside meet up would work for me.
Post: J Scott's Book on Flipping-Buy THAT Before You Buy Any Guru "Program"
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
I just bought both books since I made an offer on a short sale which will likely need a rehab if the offer is accepted. I have barely started the estimating rehab costs book and there is a lot of info here.
Post: Tu from Orange County CA
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
Welcome from a fellow orange county resident.
Post: New Member Long Beach California
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
Welcome to bigger pockets. I'm in the same boat as you. I'm trying to figure out how to make this work as well. Anyway good luck to you. There's a lot of knowledge here and plenty of people willing to help.
Post: Using Private Money for "Buy and Holds"
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
I'd be interested to know as well.
Post: Is Southern California really that bad?
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
I went out to San Bernandino yesterday. The experience was interesting to say the least. The neighborhoods were working class level with a couple of the properties in rough areas. The houses were in poor shape but I saw a potential property that shows poorly to buyers, but has a motivated seller, and is located in a working class neighborhood. We're trying to gauge how motivated the seller is but we may be able to make an offer significantly below asking. I have to run all the numbers of course.
I also saw a second potential, a short sale. The numbers work out if we get it at the right price.
If I can't get any of these at the price were the numbers make sense (10% cash on cash assuming property management) it's not worth it to me. That's assuming a down payment of 20%.
The thought of making an offer scares me but it has to be done.
We'll see what happens.
Post: Is Southern California really that bad?
- Investor
- Los Angeles, CA
- Posts 71
- Votes 16
Originally posted by @Trevor Lohman:
As far as there not being any war zones in the IE, that may be the case... but I have to say there are definitely some things I wish I could unsee after working in San Bernardino, Colton, Fontana, some parts of Riverside, Bloomington, and Rialto for a few years
@Daniel Smilansky Wow that'd be great. I definitely know the area fairly well and even have some good tenant sources in the Loma Linda area (I'm a professor) and I have to say if you're going to rent to college kids, a Seventh Day Adventist (no alcohol or caffeine) Medical school is a good place to start. We may have missed the boat as far as easily finding good deals, but I know with the right networking and due dilligence they're out there... hopefully
I'll be looking at properties in San Bernadino area. I'm not expecting much given my price range. I guess I'll know once I see it.